Central Bank
The statutes of the Central Bank of the Comoros (Banque Centrale des Comores / البنك المركزي القمري Al-Bank al-Markazi al-Qomori) state that its Board of Directors shall have eight members who are chosen from the Comorian Government, the French Central Bank (Banque de France) and the French government. The post of Deputy Director of the Central Bank of the Comoros is held by a Banque de France official, who is responsible for monetary policy. Since 19 November 1999, all the central bank's official rates have been pegged to the Euro Overnight Index Average (EONIA) leading to a stabilisation of interest rate differentials with the euro. The BCC applies a compulsory reserves system (30% of deposits) and a bank monitoring system. The headquarters are located in Moroni, and the current bank governor is Mer Said Ahmed Said Ali.
Read more about this topic: Comorian Franc
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